Meixler Investment Management Ltd. Buys Shares of 20,930 Knife River Corporation $KNF

Meixler Investment Management Ltd. bought a new stake in Knife River Corporation (NYSE:KNF) in the third quarter, HoldingsChannel reports. The fund bought 20,930 shares of the company’s stock, valued at approximately $1,609,000. Knife River accounts for approximately 1.0% of Meixler Investment Management Ltd.’s investment portfolio, making the stock its 27th biggest position.

Several other large investors also recently made changes to their positions in KNF. Baillie Gifford & Co. acquired a new position in shares of Knife River in the third quarter valued at about $169,020,000. State Street Corp raised its position in Knife River by 0.6% in the second quarter. State Street Corp now owns 2,101,198 shares of the company’s stock valued at $171,542,000 after purchasing an additional 12,308 shares during the last quarter. Geode Capital Management LLC increased its position in Knife River by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,395,726 shares of the company’s stock valued at $113,960,000 after acquiring an additional 15,464 shares during the period. Invesco Ltd. lifted its holdings in Knife River by 2.9% during the 2nd quarter. Invesco Ltd. now owns 1,272,829 shares of the company’s stock worth $103,914,000 after buying an additional 35,900 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Knife River by 30.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock valued at $64,311,000 after purchasing an additional 182,462 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KNF. B. Riley Financial started coverage on shares of Knife River in a research note on Thursday, January 15th. They issued a “buy” rating and a $92.00 price objective for the company. Zacks Research raised shares of Knife River from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. UBS Group raised shares of Knife River to an “overweight” rating in a research report on Tuesday, November 4th. Wells Fargo & Company cut their target price on Knife River from $81.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Knife River in a report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.71.

Knife River Stock Up 4.9%

Shares of NYSE KNF opened at $80.00 on Monday. The business has a 50-day simple moving average of $74.96 and a two-hundred day simple moving average of $75.41. The company has a market cap of $4.53 billion, a P/E ratio of 30.65, a P/E/G ratio of 1.34 and a beta of 0.47. Knife River Corporation has a 52 week low of $58.72 and a 52 week high of $105.99. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.73.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.